termloans
Benefits of this loan
- Loan is available in major currencies (SCR, USD, EUR and GBP)*
- Repayment period of 1-8 years applies
- Moratorium can be negotiated (up to a maximum of 24 months)
- Business contribution of up to 30% of the loan amount applies
- We offer a negotiable margin
- A dedicated relationship manager is assigned to your account
- Please consult our relationship managers for availability of term loan in other foreign currency
Requirements for this loan
- The loan amount you are eligible for will depend upon your business turnover and its debt obligations, as well as the market value of the security provided
- An arrangement fee and management fee is applicable when applying for the loan
- A commitment fee may apply (where applicable)
- Security includes pledge over the asset and insurance over the asset
overdraft
Benefits of this loan
- A pre-agreed interest rate
- An overdraft in major currencies (SCR, USD and EUR)*
- An on-demand facility
- One-year tenor that may be renewed
- A dedicated relationship manager is assigned to your account.
Requirements for this loan
- Interest is paid only on the amount used
- Overdraft amount is dependent of adequate security
- It is also dependent on financial statement and cash flow projections
- An arrangement fee is applicable
- An overdraft facility is available for up to one year and may be renewed
Documents required to apply for a loan
- Your business registration documents, such as business name registration certificate (in case of sole traders or partnerships), or company registration certificate and other company formation documents such as memorandum and articles of association (in case of companies)
- Business licence certificate if applicable to your business type
- Documentary proof of business address
- A valid identification document such as passport or national identity card for the proprietor, partners, shareholders and/or directors
- Documentary proof of address such as a utility bill (not more than three months old) for proprietor, partners, shareholders and/or directors
- Audited financials (last three years)
- Cash flow (month-to-month and yearly)
- CIS (Credit Information System) form
- Project memorandum or business plan
- Proof of equity
Please note
- Absa reserves the right to accept or decline any application based on internal policy
- We may request additional documentation as deemed necessary
- Please consult your relationship manager for more information
*Terms and conditions apply
*Facility is subject to credit approval
